Former Labour Party presidential candidate Peter Obi has raised concerns that Nigeria’s public debt could exceed ₦200 trillion by the end of 2025. In a statement posted on his X handle, Obi warned that the country’s growing debt burden may endanger future generations and worsen conditions for millions of citizens.
Obi said the Senate’s recent approval of new loans—$21 billion, €2.2 billion, ¥15 billion, and a ₦750.98 billion bond—has pushed total debt to around ₦187 trillion. He said this figure, combined with a weak return on investment in education, healthcare, electricity, and security, reflects poor fiscal discipline.
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He noted that despite a rise in GDP to ₦372.8 trillion after rebasing, Nigeria’s debt-to-GDP ratio now stands at 50.16 percent—the highest in the country’s history. He also cited a Médecins Sans Frontières report that 652 children had died from malnutrition in Northern Nigeria, with Katsina State among the worst affected.
Obi urged the government to end wasteful spending and invest in sectors that directly impact human development. He stressed that borrowing is only beneficial when tied to measurable outcomes and accused the current administration of mortgaging the future of young Nigerians.
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